What happens if I miss a payment?
At Tabby, we strive to promote responsible spending habits by carefully evaluating every purchase before approval. We encourage you to pay on time, by:
- Sending you regular reminder notifications
- Ensuring you cannot make other purchases until any overdue payments are completed
Customers in the UAE will be charged collection charges if they miss their payment due date. Consistently late payments will negatively impact their credit score, which may also affect their eligibility for loans from other financial institutions.
Customers in Saudi Arabia will never be charged for being late. However, legal processing fees will be applied if their account is in bad standing. The legal processing fee is a one-time charge that covers the costs involved in resolving accounts in bad standing. This includes expenses related to legal proceedings, such as formal notices, documentation preparation, and collection efforts required to address the account’s status in accordance with applicable laws and regulations. This fee is Shariah-compliant and has been certified by a recognised Shariah advisory entity.
